Taxation of partnership firm

Views:
 
Category: Entertainment
     
 

Presentation Description

No description available.

Comments

Presentation Transcript

Taxation of partnership firm: 

Taxation of partnership firm ROLL NO. NAME OF THE MEMBER MEDHA PATKE ABHINITA POOJARY NISHIT SARAIYA

INTRODUCTION: 

INTRODUCTION Meaning of Partnership Firm under Indian Partnership Act, 1932 Partnership firm is subjected to taxation under the Income Tax Act,1961 Rate of tax Interest to Partners should not exceed 12% Remuneration to Partners Due dates for filing return of firm Due dates for filing of returns of partners

Remuneration: 

Remuneration Book Profit/Loss % of amount of deduction ( i ) loss or profit upto Rs. 3,00,000 Rs. 1,50,000/- or 90% of Book Profit whichever is more (ii) on the balance 60% of book profit